Gold Prices, Dollar Slips as New China Tariffs Imminent-SapForex24

Gold prices and the U.S. dollar both slipped on Monday as the United States is set impose a new round of tariffs on Chinese imports.

Gold futures for December delivery were down 0.14% to $1,199.4 per troy ounce at 12:50AM ET (04:50 GMT) on the Comex division of the New York Mercantile Exchange.

Reports on the weekend suggested that U.S. President Donald Trump wants to move forward with tariffs on $200 billion in Chinese goods.

The tariff level will probably be about 10%, the Wall Street Journal reported, quoting people familiar with the matter. This is below the 25% the administration said it was considering for this possible round of tariffs.

The U.S. Dollar Index, which tracks the greenback against a basket of other currencies, traded 0.04% lower to 94.47.

Asian equities also traded mostly lower on the tariffs news, with China’s Shanghai Composite, the Shenzhen Composite and Hong Kong’s Hang Seng Index all fell more than 1%.

Looking ahead, the U.S. Commerce Department is set to publish a report on building permits and housing starts for August at on Wednesday.

The data is expected to show that permits dipped 0.1% slightly to 1.310 million last month, while housing starts are forecast to show a gain of 5.8% to 1.240 million.

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Crude Oil Price Update – Trade Through $65.96 Will Make $64.22 New Main Bottom-SapForex24

Based on the early price action, the direction of the July WTI futures contract is likely to be determined by trader reaction to $64.92 and $64.77.

Crude oil futures are trading higher shortly after the regular session opening on concerns about a possible steep drop in exports from Venezuela. Offsetting some of this potential supply disruption is surging U.S. production, which hit another record last week, according to the U.S. Energy Information Administration.

Daily Swing Chart Technical Analysis

The main trend is down according to the daily swing chart. However, traders may be trying to shift momentum to the upside with the formation of the closing price reversal bottom on Tuesday.

The chart pattern was confirmed on Wednesday, but there hasn’t been a follow-through move yet. Crude oil is trading inside yesterday’s wide range which suggests investor indecision and impending volatility.

A trade through $64.22 will negate the chart pattern and signal a resumption of the downtrend. The minor trend changes to up on a trade through $68.67 and the main trend will change up on a move through $72.90.

The market is trying to establish support at a pair of 50% levels at $64.77 to $64.92. Resistance is a Fibonacci level at $66.00, followed by a series of rising 50% levels at $66.45, $67.32 and $68.56.

Daily Swing Chart Technical Forecast

Based on the early price action, the direction of the July WTI futures contract is likely to be determined by trader reaction to $64.92 and $64.77.

A sustained move over $64.92 will indicate the presence of buyers. If this generates enough upside momentum, we could see a move into $66.00, followed by $66.45. The latter is a trigger point for a possible acceleration to the upside with $67.32 the next likely upside target.

A sustained move under $64.77 will signal the presence of sellers. This could drive the market into the minor bottom at $64.22. Look for an acceleration to the downside under the bottom with $63.03 the next target.

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Forex - Euro Gains as Markets Shrug off Trade Concerns-SapForex24

The euro pushed higher on Monday as markets shrugged off concerns over escalating trade tensions as signs of strength in the U.S. economy bolstered risk appetite.
EUR/USD was up 0.24% to 1.1687.

The dollar was a touch lower against the safe haven yen, with USD/JPY edging down to 109.46 from an overnight high of 109.77.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.18% to 93.99 after rising 0.22% on Friday.

The pound was little changed against the dollar, with GBP/USD last at 1.3351.

The risk sensitive Australian dollar was higher, with AUD/USD gaining 0.82% to trade at 0.7629, while the New Zealand dollar was also higher, with NZD/USD up 0.43% to 0.7012.

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Oil Prices Continue Lower Ahead of EIA Weekly Supply Report-SapForex24

crude futures slumped 44 cents, or 0.7%, to $64.06 a barrel by 3:45AM ET (0845GMT), its lowest level in around a week. On Tuesday, the U.S. benchmark fell $1.06, or 1.6%, to $64.50 a barrel.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., declined 42 cents, or roughly 0.6%, to $68.10 a barrel, after losing 68 cents, or 1%, a day earlier.

In other energy trading, gasoline futures dropped 0.2% to $1.851 a gallon, while heating oil shed 0.4% to $2.059 a gallon.

Natural gas futures sank 13.5 cents, or 4.3%, to $3.059 per million British thermal units, as updated weather forecasting models called for milder weather, which should dampen demand for the heating fuel.

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Gold Prices Continue Lower as Markets Await Fed, Trump-SapForex24

Comex gold futures were down around $6.00, or 0.5%, to $1,334.40 a troy ounce by 3:10AM ET (0810GMT). It fell to a one-week low of $1,332.80 in overnight trade.

Meanwhile, silver futures shed 6.2 cents, or 0.4%, to $17.06 a troy ounce, after tumbling 31.4 cents, or 1.8%, a day earlier.

Gold futures lost 0.9% on Monday as the dollar extended its rebound from a three-year nadir and benchmark Treasury yields cleared their highest level since April 2014.

The dollar continued higher, rising almost 0.3% against a basket of six major currencies to 89.44 in early trade, having pulled up from a low of around 88.25 set last week, its weakest level since December 2014.
In other metals action, palladium prices slumped 1% to $1,072.15 an ounce.

Sister metal platinum meanwhile dropped 1.6% at $996.40 an ounce. March copper shed 0.9% to $3.166 a pound.

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Dollar index holds steady as markets await Trump's speech and Fed-SapForex24

The dollar held above a recent three-year low against a basket of major currencies on Tuesday, with traders turning their attention to U.S. President Donald Trump's State of the Union speech and a Federal Reserve policy meeting for catalysts.

The dollar rose 0.1 percent against a basket of six major currencies to 89.430, having pulled up from a low of around 88.43 set last week, its weakest level since December 2014.

Analysts said a renewed rise in U.S. bond yields this week lent some support to the dollar. The U.S. 10-year Treasury yield reached a peak of 2.733 percent in Asian trading on Tuesday, the highest since April 2014, and last stood at 2.712 percent.

The euro eased 0.1 percent to $1.2373, edging away from a three-year high of $1.2538 touched last week.
Trump said on Monday he will address his proposed immigration overhaul in his State of the Union speech as well as his efforts to lower trade barriers around the world for American exports.

The president will also outline his much-anticipated infrastructure plan in the speech.

Against the yen, the dollar eased 0.2 percent to 108.78 yen, edging back in the direction of a 4-1/2 month low of 108.28 yen set on Friday.

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Oil Prices Start the Week Near Recent Highs Amid OPEC Optimism-SapForex24

U.S. West Texas Intermediate (WTI) crude futures inched up 19 cents, or 0.3%, from their last close to $66.33 a barrel .

The U.S. benchmark reached its best level since Dec. 4, 2014 at $66.66 last Thursday.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., declined 11 cents, or roughly 0.2%, to $70.04 a barrel. The contract touched $70.78 on Thursday, a level not seen since Dec. 2014.

gasoline futures held steady at $1.925 a gallon, while heating oil shed 0.4% to $2.119 a gallon.

Natural gas futures sank 7.9 cents, or 2.5%, to $3.095 per million British thermal units, as updated weather forecasting models called for milder weather next week.

The commodity soared about 10% last week, as traders reacted to a blast of cold weather which upped demand for the heating fuel.

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Gold holds near 5-week low amid hawkish Fed outlook -SapForex24

Gold prices stayed near the lowest level in around five weeks in European trade on Tuesday, as hawkish remarks made by an influential Federal Reserve official reinforced expectations for the Fed to keep raising interest rates.

Comex gold futures were at $1,248.89 a troy ounce by 4:35AM ET (0835GMT), up $2.20, or around 0.2%. Prices fell to $1,244.10 in overnight trade, a level not seen since May 17. Gold prices lost about $10.00, or 0.8%, on Monday.

Also on the Comex, silver futures were up 7.8 cents, or roughly 0.5%, to $16.58 a troy ounce, after hitting its lowest since May 18 at $16.44.

New York Fed Chief William Dudley gave an upbeat assessment of the economy on Monday and warned against the central bank taking a pause in the tightening cycle.

In a business roundtable held in Plattsburg, New York, Dudley said U.S. inflation is a bit low but should rise alongside wages as the labor market continues to improve, allowing the Fed to continue gradually tightening U.S. monetary policy.

The remarks echoed similar comments made by Fed Chair Janet Yellen in last week’s press conference after the central bank hiked rates for the second time this year.

Chicago Fed President Charles Evans however later said the Fed should move slowly to raise rates and trim its portfolio due to soft inflation.

The U.S. central bank last week raised interest rates as widely expected and maintained plans to go ahead with another rate hike by year-end. The Fed also provided greater detail about how it plans to reduce its massive $4.5 trillion balance sheet.

Despite the Fed's relatively hawkish message, market players remained doubtful over the central bank's ability to raise rates as much as it would like before the end of the year due to a recent run of disappointing U.S. economic data.

Futures traders are pricing in around a 20% chance of a hike at the Fed's September meeting, according to Investing.com’s Fed Rate Monitor Tool. Odds of a December increase was seen at about 40%.

Market players will focus on a pair of Federal Reserve speakers Tuesday, as they look for more clues on future monetary policy moves.

Boston Fed President Eric Rosengren speaks at 8:15AM ET at the DNB-Riksbank Macroprudential Conference Series meeting in Amsterdam. Dallas Fed President Robert Kaplan will also speak in San Francisco at the Commonwealth Club of California.

Fed Vice Chair Stanley Fischer did not address the outlook for U.S. monetary policy or the economy when he spoke in Amsterdam earlier in the day.

Among other precious metals, platinum was little changed at $928.05, while palladium tacked on 0.5% to $859.80 an ounce.

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Top 4 Things Successful Forex Traders Do- SapForex24

Forex trading should be done with care. There are equal probability of profits and loss in the Forex markets. The key to success in the forex trading is to anticipate the Forex Signals. The art of anticipating the forex trading signals can be in cashed heavily in the forex markets. 

In order to become successful in forex trading the traders should follow some basic tips as discussed below.

•  Trade based on a strategy: The successful forex traders always trade based on certain strategy. The adequacy of the strategy and its percentage success rate will decide the profits earned by the trader. The trader should learn the strategy properly and should automate it to follow it properly.

• Paper Trade the Strategy: The strategy followed by the trader should be checked for its percentage yield and its exactness. The trader should first paper trade to check and master the strategy and once he is confident with the strategy then only he should start investing real money in the forex markets.

• Trade with Stop Loss: The trader should always trade with the help of stop loss. Whatever strategy the trader is following the use of stop loss is very useful in preventing the trader from incurring heavy losses. The proper stop loss levels are also very critical in gaining profits from a strategy.

• Keep emotions in control: While following some strategy the trader should keep the emotions in control. Even if the forex signals goes in opposite direction the trader should keep his emotions in control and trade wisely. Also the greed should be in control to prevent the trader from over trading.

If the trader is trading based on the advice of an advisory firm like SapForex24 they can gain good profits as these advisory firms have expert technical analyst who on the basis of their analysis provide forex signals to their clients.

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Oil recovers lost ground, but market remains under pressure-SapForex24

Oil prices recovered lost ground on Monday following big losses last week, driven by expectations that OPEC will extend a pledge to cut output to cover all of 2017, although a relentless rise in U.S. drilling capped gains.

U.S. West Texas Intermediate (WTI) Crude Oil futures (CLc1) added 32 cents, or 0.64 percent, by 0649 GMT(2:49 a.m. ET), but were still just below the $50 mark pierced on Friday at $49.84 a barrel.
Brent crude futures (LCOc1) rose 35 cents, or 0.67 percent, to $52.31 per barrel.

Oil prices fell steeply last week on the back of stubbornly high crude supplies, despite a pledge by the Organization of the Petroleum Exporting Countries (OPEC) and some other producers to cut production by almost 1.8 million barrels per day (bpd) for six months from Jan. 1 to support the market.

U.S. drillers added oil rigs for a 14th week in a row, to 688 rigs, extending an 11-month recovery that is expected to boost U.S. shale production in May by the biggest monthly increase in more than two years.

U.S. crude production is at 9.25 million barrels per day (bpd) , up almost 10 percent since mid-2016 and approaching that of OPEC's top exporter Saudi Arabia.

"WTI oil slipped back below the $50 per barrel level, amid concerns that the lack of inventory drawdown since the OPEC production cuts is a sign that the cuts are not enough to rebalance supply and demand and put a floor under prices," said William O'Loughlin, investment analyst at Rivkin Securities in a note on Monday.

Both the Brent and WTI oil benchmarks are down more than 7.5 percent since the end of last year.
Keen to halt a further decline in prices, a panel made up by OPEC and other allied producers has recommended an extension of output cuts by another six months from June, a source said.

This, and an expected fall in Iranian production lent markets some support on Monday, traders said.
Iran's crude oil exports are set to hit a 14-month low in May, suggesting the country is struggling to raise exports after clearing out stocks stored on tankers.

Iranian oil exports, especially to its core markets in Asia, had soared since the ending of most sanctions against it in January 2016.

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Forex - Dollar holds onto gains vs. other majors-SapForex24

The dollar held onto gains against other major currencies on Wednesday, recovering from the previous session’s downbeat U.S. data, although U.S. political uncertainty was expected to limit the greenback’s rise.

EUR/USD slipped 0.19% to 1.0711, off a three-week high of 1.0737 hit overnight.

The greenback had weakened after the U.S. Commerce Department reported on Tuesday that housing starts fell in March, likely due to bad weather, while building permits rose.

A separate report showed that U.S. industrial production rose in line with economists’ forecasts in March, while manufacturing production unexpectedly fell.

Sentiment on the greenback also remained vulnerable as trade talks between the U.S. and Japan got underway this week, with markets awaiting indications of the direction U.S. trade policy could take under President Donald Trump, who campaigned on a protectionist platform.

Heightened tensions around North Korea, which has vowed to conduct more missile tests following Sunday's failed missile launch, also continued to weigh on the greenback.

U.S. Vice President Mike Pence said on Wednesday that Washington would work with its allies and China to put economic and diplomatic pressure on North Korea.

Markets were also jittery ahead of the first round of the French presidential election, scheduled on Sunday April 23. The race tightened after a surge in polls for far-left candidate Jean-Luc Melenchon, who wants a referendum on the country’s European Union membership.

Elsewhere, GBP/USD edged down 0.20% to 1.2816 after hitting a six-month peak of 1.2904 on Tuesday, when U.K. Prime Minister Theresa May on Tuesday called a snap election for June 8.

Analysts expect May to win a substantial majority in the elections, securing her position ahead of talks with the European Union about the terms for Brexit.

USD/JPY gained 0.43% to trade at 108.90, while USD/CHF eased up 0.11% to 0.9975.

The Australian and New Zealand dollars were weaker, with AUD/USD down 0.60% at 0.7515 and with NZD/USD declining 0.41% to 0.7013.

Meanwhile, USD/CAD rose 0.34% to trade at 1.3427.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.23% at 99.64, just off the previous session’s three-week low of 99.36.

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New Ways of Trading in Comex Market - SapForex24

There are various ways of trading in the COMEX markets. In comex various commodities are listed and they can be traded on the current market prices. The trader can trade on the commodities which are divided in to two broad categories. One category is Agricultural commodities and the other is Non Agricultural commodities. 

In agricultural commodities the agricultural products like wheat, pulses etc come.

In non agricultural commodities the precious metals are the major part. The precious metals include comex gold, comex silver, comex copper and others. Some traders have petroleum based commodities as their favorites. These include commodities like natural gas and crude oil.

The important part in the commodity trading is to find how the future comex signals behave. If a trader is able to anticipate and forecast the Comex Trading Signals correctly they can place the appropriate buy and sell calls and gain good profits from the Comex markets. 

The trader can learn technical analysis to forecast the trading signals correctly. Also the trader can follow some strategy which is based on technical and fundamental analysis for trading successfully in the markets. But learning of Technical analysis takes sufficient time. 

So for the traders who are new to the Comex market, they can take the help of international advisory firms like SapForex24. The advisory firm like SapForex24 is the reputed and established international advisory firm.

These days, new techniques like automated trading are used. In automated trading the buy and the sell calls are placed automatically with the help of a computer. An algorithm is written and based on the rules used in the algorithm the buy and the sell calls are placed.

Due to the automation of the entry and exit of the trade, there is minimum involvement of the emotions in trading. Also it prevents the trader from over trading. Thus one can benefit from the latest ways of trading in the Comex Market.

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Goldman says global crude stocks likely to keep falling- SapForex24

Goldman Sachs (NYSE:GS) expects global crude oil inventories to keep falling due to production cuts and strong growth in demand, although stocks are likely to rise in the United States.

"We do not view the recent U.S. builds as derailing our forecast for a gradual draw in inventories, with in fact the rest of the world already showing signs of tightness," analysts at the bank said in a note dated Feb. 21.

"Given our unchanged 1.5 million barrels per day growth forecast for 2017, this higher base demand level should fully offset higher U.S. output."

The Wall Street bank reiterated its forecast for Brent and U.S. Crude prices to rise to $59 and $57.50 per barrel respectively in the second quarter, before dropping to $57 and $55 for the rest of 2017.

Oil prices held near multi-week highs on Wednesday, with the U.S. West Texas Intermediate April crude contract (CLc1) up 18 cents at $54.51 a barrel at 0228 GMT (5:28 a.m. ET), while Brent crude (LCOc1) was up 24 cents at $56.90.

Surging U.S. output has pushed crude and gasoline inventories to record highs, keeping a lid on prices after they climbed following an agreement by the Organization of the Petroleum Exporting Countries (OPEC) and other producers to cut output by about 1.8 million barrels per day (bpd).

"While the production cuts have so far reached a historically high level of compliance at 90 percent, the rebound in U.S. drilling activity has exceeded even our above consensus expectations," Goldman said.

However, the increase in U.S. drilling points to factors including further improvement in shale productivity and funding for the industry, rather than expectations of an increase in prices, the bank said.

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Oil firms as OPEC floats extended output cut markets still bloated- SapForex24

Oil prices edged up on Friday, lifted by a report that producer club OPEC could extend an output cut aimed at reining in a global fuel supply overhang.
Brent crude futures were trading at $55.77 per barrel at 0750 GMT (2:50 a.m. ET), up 12 cents from their last close.

U.S. West Texas Intermediate (WTI) crude futures, were up 7 cents at $53.43 per barrel.
The Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia plan to cut output by almost 1.8 million barrels per day (bpd) during the first half of 2017, and estimates suggest compliance by OPEC is around 90 percent.

The cuts are aimed at curbing oversupply that has dogged markets since 2014.

To help rebalance the market, OPEC sources told Reuters that the supply reduction pact could be extended if all major producers showed "effective cooperation".

For now, inventories remain bloated and supplies high, especially in the United States.
Recent price movements reflect this, with Brent and WTI trading within a $5 per barrel price range this year, in what has become the longest and most range-bound period since a price slump began in mid-2014.

"Despite the headlines, the massive inventory glut in both oil and gasoline continues to thwart any upward momentum," said Stephen Innes, senior trader at OANDA in Singapore.

In the United States, rising output has helped push up Crude and fuel stocks to record highs.
In Asia, oil flows into the region remain as high as they were before the production cuts, data in Thomson Reuters Eikon shows, as exporters shield their big customers in a fight for market share.
This comes amid signs of stuttering demand growth in core markets, China and India.

In India, fuel demand growth fell in January, while in China sagging car sales and soaring gasoline and diesel exports also point to a slowdown in growth.

That leaves Europe, where OPEC has significantly cut supplies. However, Eikon data shows rising North Sea oil exports to Asia, indicating there is no real supply shortage there either.
Despite the ongoing glut, analysts expect oil markets to tighten in the longer term.

"In the fourth quarter of 2018, global oil demand will most likely surpass 100 million barrels per day," AB Bernstein said on Friday in a note to clients.

"If oil prices stay around $60 per barrel and GDP growth over 3 percent per annum, then oil demand growth will be stronger over the next 5 years, than the previous decade. What we are witnessing is a rather surprising renaissance of oil consumption," it added.

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Trade with a Difference in Comex Markets- SapForex24

There are many traders who try their luck with Comex markets. But not all the traders are successful. Some traders end up collect best profits while some end up in making heavy losses. Thus the trader should trade with a difference from majority of traders. The trader can trade on Comex Gold, Comex Silver, Comex Copper and other precious metals also.

The trader can also trade on Crude oil, Natural gas as well as other petroleum based commodities. The people who are new to the Comex trading and do not have proper knowledge about the Comex Trading Signals can trade by taking help of some international advisory firms. 

Trade with a Difference in Comex Markets-SapForex24

These advisory firms have enough resources in the form of potential technical analysts. These technical analysts do an in-depth technical analysis and generate buy and sell signals. These buy and sell calls are the result of enough technical and fundamental analysis. 

Also the advisory firms provide accurate stop loss levels, so that if the market goes in the opposite direction a limited loss is earn. Thus it is always in the favor of the trader that he trades with the help of Stop Loss. 

SapForex24 is one such international advisory firm which provides accurate comex signal & Forex Signals. The comex trading signals are in the form of buy and sell Signals with proper stop loss levels.

The key to trade in the Comex Market is to forecast the comex signals properly. If the comex trading signals are correctly predict a good profit can be earn from the comex market. Another way beside the technical analysis to predict the Comex Signals is to trade on the basis of national and international news.

The news plays an important part in the direction of the trend. Positive and negative news will have an impact on the directions of the markets. The trader can use the above mentioned methods to trade successfully in the Comex Market.  

Oil stuck in familiar range as investors await U.S. supply data -sapforex24

Oil prices were little changed during European morning hours on Wednesday, holding in a familiar trading range as market players awaited fresh weekly information on U.S. stockpiles of crude and refined products.

Crude oil for March delivery on the New York Mercantile Exchange inched up 6 cents, or around 0.1%, to $52.86 a barrel by 4:10AM ET (09:10GMT), after gaining 18 cents, or about 0.3%, a day earlier.

Elsewhere, Brent oil for April delivery on the ICE Futures Exchange in London added 3 cents, or less than 0.1%, to $55.60 a barrel. Futures rose 26 cents, or nearly 0.5%, on Tuesday.

The U.S. Energy Information Administration will release its weekly report on oil supplies at 10:30AM ET (15:30GMT) Wednesday, amid analyst expectations for a rise of 3.3 million barrels.
Gasoline inventories are expected to rise by 982,000 barrels while stocks of distillates, which include heating oil and diesel, are forecast to fall by 903,000 barrels.

After markets closed Tuesday, the American Petroleum Institute said that U.S. oil inventories rose by 5.8 million barrels in the week ended January 27.

The API report also showed a gain of 2.9 million barrels in gasoline Stocks, while distillate stocks rose 2.3 million barrels.

Futures have been trading in a narrow range around the low-to-mid $50s over the past month as sentiment in oil markets has been torn between expectations of a rebound in U.S. shale production and hopes that oversupply may be curbed by output cuts announced by major global producers.

U.S. drilling activity has risen by more than 6% since mid-2016, taking it back to levels seen in late 2014, when strong U.S. crude output contributed to a collapse in oil prices.

The revival in U.S. drilling has raised concerns that the ongoing rebound in U.S. shale production could derail efforts by other major producers to rebalance global oil supply and demand.

OPEC and non-OPEC countries have made a strong start to lowering their oil output under the first such pact in more than a decade as global producers look to reduce oversupply and support prices.
January 1 marked the official start of the deal agreed by OPEC and non-OPEC member countries such as Russia in November last year to reduce output by almost 1.8 million barrels per day to 32.5 million for the next six months.

The deal, if carried out as planned, should reduce global supply by about 2%.

Elsewhere on Nymex, gasoline futures for March tacked on 0.5 cents, or 0.4%, to $1.559 a gallon, while March heating oil was little changed at $1.631 a gallon.

Natural gas futures for March delivery jumped 7.8 cents, or 2.5%, to $3.195 per million British thermal units.

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Gold pulls back from 2-month high as dollar rebounds | SAPFOREX24

Gold prices edged lower during European morning trade on Tuesday, pulling back from the prior session's two-month peak as the dollar firmed after earlier losses.

Gold for February delivery on the Comex division of the New York Mercantile Exchange dipped $2.00, or around 0.2%, to $1,213.55 a troy ounce by 4:10AM ET (09:10GMT), after rallying $10.70, or 0.9%, a day earlier.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.2% at 100.15, recovering after slumping to a seven-week low of 99.88 earlier.

The dollar sold off after President Donald Trump's nominee for Treasury Secretary Steven Mnuchin said that an "excessively strong" dollar can have negative short-term impacts on the U.S. economy.
Mnuchin is still awaiting confirmation by the Senate, which has yet to schedule a vote.

Prices of the yellow metal jumped to $1,219.40 on Monday, a level not seen since November 22, as the U.S. dollar tumbled amid uncertainty around the economic policies of new U.S. President Donald Trump.

In his latest executive order, Trump signed to formally withdraw the U.S. from the 12-nation Trans-Pacific Partnership trade deal, distancing America from its Asian allies.

Trump has also vowed to renegotiate the North American Free Trade Agreement (NAFTA) with leaders of Canada and Mexico.

Global financial markets will continue to focus on Trump for further details on his promises of tax reform, infrastructure spending and deregulation, as well as insight regarding policies on China and the domestic economy.

The president vowed “massive” cuts in taxes and said he could reduce regulations by "75% or more" to help businesses create more jobs in the U.S. in a meeting with top executives of U.S. companies at the White House on Monday. Trump also reiterated his pledge to impose a hefty border tax.

Trump plans to meet with automotive executives at the White House on Tuesday.
Also on the Comex, silver futures for March delivery dipped 3.4 cents, or 0.2%, to $17.15 a troy ounce during morning hours in London.

Meanwhile, platinum tacked on 0.6% to $985.35, while palladium added 0.9% to $778.33 an ounce.
Elsewhere in metals trading, copper futures rose 0.6 cents, or about 0.3%, to $2.654 a pound.

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Basic Forex Market concepts for the beginners- SapForex24

The first ones use benefits  of Forex market for exchanging national currency, the latter ones use brokerage services for trading on difference in rates, thus, earning some Money. Brokers give a chance to traders Share in the Forex market and carry out sell or buy transactions using their advantage.

Brokers want to have a license, which gives them entrance to the Forex market. The entrance to Forex is not available for everyone. You Want to be a client of a brokerage in order to get entrance to the market and then, carry out buy or sell trades. All exchange rates of all national currencies at the Forex are rated versus each other.

Desirable features the Forex currency market

Have you ever thought why demand of Forex currency market is increasing every day, entrance great number of investors and traders? The fact is that Forex  Market is a unique place, which is different from other exchanges. Let’s look into Benefits of Forex market.

Liquidity

Liquidity of the currency market is a market’s Benefits to Buy or sell capital quickly. High liquidity of the capital means that is can be sold quickly in the International market. High liquidity of the currency market is based on the following factors:

·         The number of the currency market contributor is very large  most of them are major financial organization, which usually carry out large-scale deals in the Forex market.

·         Forex market does not have hard work schedule, work  24 hours a day. That is why market is active all the time as after the execution of one trading session, the other session just begins.

·         Currency market is a market of exchanges in the national currencies, which also increases liquidity in the Forex market.

 Accessibility

As you know, everyone, who has obtain to Internet can become a Forex trader. You even do not need a computer  now as you can trade just on your mobile phone or other modern devices. Forex market is available and affordable for all!

Margin trading

Margin trading on is a big benefit of the Forex market, as Forex brokers provide leverage to their traders, prepare them to use biggest funds for forex trading, than they have present. Trader’s profit depends on the volume of a transaction. The higher is the volume of the deal, the higher is your profit.

Low deposits

You do not require to have a fortune in order to trade at Forex Market. You can start just having $100, gradually increasing trading volume by using your profit, which you received from a broker, or you can capture in the trust management accounts and using investors’ funds for trading. You have infinite possibilities.

Oil on track for largest annual gain in 7 years ahead of production cut | SapForex24

 U.S. oil prices edged slightly higher in light pre-New Year holiday trade on Friday in an attempt to recover losses caused in the prior session from a surprise build in U.S. crude stockpiles while hopes for 2017's kickoff of the agreement to cut output and a weaker dollar helped support the commodity.
Crude oil for February delivery on the New York Mercantile Exchange gained 22 cents, or around 0.4%, to $53.99 a barrel by 4:14AM ET (8:14GMT), after falling 29 cents, or 0.5%, a day earlier.

Elsewhere, Brent oil for March delivery on the ICE Futures Exchange in London rose 29 cents, or 0.5%, to $57.14 a barrel, after the prior session's loss of 8 cents, or 0.14%.
London-traded Brent futures touched a 17-month high of $57.89 earlier this month, amid optimism over planned output cuts by major global oil producers.

Continued profit-taking in the U.S. dollar on Friday also helped support prices. The Dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.18% at 102.48 by 3:44AM ET (9:44GMT), pulling back from a peak of 103.62 reached on December 20.

A weaker dollar boosts crude as it becomes cheaper for traders purchasing with other currencies.
Oil prices are on track for their biggest annual percentage gain since 2009 on the back of an agreement struck between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries to cut crude production.

OPEC and other producers led by Russia have announced cutbacks of almost 1.8 million barrels per day in oil output starting from January 1, 2017 in an effort to bolster prices and support the market.
Meanwhile, the members of an OPEC and non-OPEC committee formed to monitor the market may meet on January 21-22, according to Kuwaiti oil minister Essam Al-Marzouq, which may give an early indication of compliance with the deal.

Oil prices will gradually rise towards $60 per barrel by the end of 2017, a Reuters’ poll showed on Thursday, with further upside capped by a strong dollar, a likely recovery in U.S. oil output and possible non-compliance by OPEC with agreed cuts.

Investors were also looking ahead to Baker Hughes' rig count data.
The oilfield services provider said last Friday that the number of rigs drilling for oil in the U.S. the previous week increased by 13 to 523, the eighth straight weekly rise and a level not seen in almost a year.

Some analysts have warned that the recent rally in prices could be self-defeating, as it encourages U.S. shale producers to drill more, adding to concerns over a global supply glut.
Elsewhere on Nymex, gasoline futures for February added 0.23% to $1.6793 a gallon, while February heating oil tacked on 0.37%, to $1.7263 a gallon.

Natural gas futures for February delivery slumped 2.0 cents, or 0.53%, to $3.822 per million British thermal units.

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Dollar at fresh 14-year highs vs. rivals after mixed U.S. data

The dollar was hovering at a fresh 14-year peak against the other majors currencies on Wednesday, after the release of mixed U.S. data failed to dampen optimism over the strength of the economy.
The Universtity of Michigan said its consumer sentiment index rose to 93.8 in November from 91.6 the previous month, beating expectations for an unchanged reading.

In addition, the U.S. Commerce Department said durable goods orders climbed 4.8% last month, compared to expectations for a gain of 1.5%.
Core durable goods orders, which exclude volatile transportation items, rose 1% last month, compared to a forecast increase of 0.2%.

On a less positive note, the U.S. Department of Labor said initial jobless claims in the week ending November 19 increased by 18,000 to251,000 from the previous week’s total of 233,000 (initially 235,000). Analysts had expected jobless claims to rise by 15,000 to 250,000 last week.
Another report showed that U.S. new home sales fell by 1.9% to 563,000 units last month, disappointing expectations for a 0.3% increase.

The greenback has remained supported amid expectations that President-elect Donald Trump’s plans to ramp up fiscal spending and cut taxes will spur economic growth and inflation.
Faster growth would spark inflation, which in turn would prompt the Fed to tighten monetary policy a faster rate than had previously been expected.

The U.S. dollar has also been boosted by bets that the U.S. central bank will almost certainly raise interest rates next month.
Fed Chair Janet Yellen on Thursday reiterated that a rate hike “could well become appropriate relatively soon.”

EUR/USD dropped 0.81% to a fresh 11-month low of 1.0537.

Research group Markit earlier reported that its euro zone composite purchasing managers’ index, which measures the combined output of both the manufacturing and service sectors, increased to 54.1 November from the prior month’s reading of 53.3 and above forecasts for no change.
The German manufacturing PMI slipped to 54.9 this month from 55.0, while the services PMI climbed to a six-month high of 55.0 from 54.2.

Markit also said its French manufacturing PMI declined to a two-month low of 51.5 in November from 51.8 the previous month, while the services PMI rose to a two-month high of 52.6 from 51.4.
Elsewhere, GBP/USD slid 0.27% to 1.2390.

USD/JPY rallied 1.43% to an eight-month high of 112.78, while USD/CHF climbed 0.56% to 1.0171.
The Australian and New Zealand dollars were weaker, with AUD/USD down 0.08% at 0.7396 and with NZD/USD dropping 0.79% to 0.7006.

Meanwhile, USD/CAD gained 0.28% to trade at 1.3478.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.81% at a fresh 14-year high of 101.91.

http://sapforex24.com/